Qatar is among the world’s attractive destination for investments

Qatar Chamber’s Second Vice Chairman Rashid bin Hamad Al Athba met yesterday with a media delegation from Balkan states in the presence of head of Qatari-Bulgarian Business Council, Peter Michalos.

Al Athba briefed the visiting delegation on Qatar’s economy, role of the Chamber in activating the private sector and maximizing its contribution in the economic development, as well as the role of the chamber and private sector in overcoming the siege and Qatar National Vision 2030.

He noted that Qatar enjoyed strong relation with Balkan states at all levels, but their t is still below expectations and does not reflect the huge potentials that are available in both sides.

He said that Qatar’s trade with Belgaria, Serbia and Greece amounted to QR417m, including QR84 mn with Bulgaria, QR 26m with Serbia and QR 307m with Greece.

Underscoring the strength of Qatar economy, he said that it is one of the world’s fast-growing and dynamic economies, affirming that it has shown strong performance during the past couple of years, driven by the wise policies adopted by the State to stimulate various sectors the economy and Qatar’s Gross Domestic Product (GDP) grew to $225bn last year.

He also said that according to the World Bank, Qatari economy is expected to grow at 2.7 percent in 2019 and 3 percent in 2020 partly driven by Qatar’s success in attracting foreign direct investments, noting that it is expected to grow by 3.4 percent by 2021, driven by higher growth in the services sector as Qatar readies to host the 2022 FIFA World Cup.

Qatar Chamber officials holding discussions with the visiting media team.

Qatar has managed to build one of the most attractive investment environments in the world by developing its legislative environment and issuing new laws that protect and promote local and foreign investments, he added.

Regarding the siege, Al Athba said that Qatar converted the siege repercussions into benefits, stressing that it has contributed to accelerating development plans, as well as promoting the public-private co-operation and in activating industrial and agricultural development.

About investment climate, QC Second Vice Chairman said that Qatar has developed legislations regulating the business environment to allow foreign investors up to 100 percent ownership in all sectors, and economic and commercial activities in addition to allowing non-Qatari investors and commercial companies to invest in the realty sector and own properties in several vital economic and tourism areas across the country.

Elaborating Qatar Chamber’s roles in the national economy, he pointed out that it protects and represents the Qatari private sector, noting that the number of registered members reached 80000 members.

The chamber actively participated in trade missions and exhibitions, as well as in receiving foreign delegations wanting to explore investment opportunities in the local market, he added.

For his part, Peter Mihalos praised the development of Qatar economy and the investment climate in Qatar, terming it as attractive for investments.

Source from: The Peninsula